Virginia Retirement Systems ET AL reduced its holding in PROG Holdings, Inc. (NYSE:PRG – Get Rating) by 36.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The company owned 28,900 shares of the company’s stock after selling 16,400 shares during the period. Virginia Retirement Systems ET AL’s holdings in PROG were worth $831,000 at the end of the most recent quarter.
A number of other major investors have also recently bought and sold shares in PRG. The Royal Bank of Canada increased its stake in PROG shares by 35.9% during the third quarter. The Royal Bank of Canada now owns 40,835 shares of the company, valued at $1,716,000, after purchasing an additional 10,783 shares last quarter. UBS Asset Management Americas Inc. increased its stake in PROG shares by 19.8% in the third quarter. UBS Asset Management Americas Inc. now owns 78,864 shares of the company, valued at $3,313,000, after purchasing an additional 13,051 shares last quarter. Diversified Trust Co increased its holding in PROG shares by 7.6% during the fourth quarter. Diversified Trust Co now owns 6,202 shares of the company, valued at $280,000, after purchasing an additional 439 shares last quarter. Strs Ohio increased its holdings in PROG shares by 2,428.6% during the fourth quarter. Strs Ohio now owns 17,700 shares of the company, valued at $798,000, after purchasing an additional 17,000 shares last quarter. Finally, the New York State Teachers Retirement System increased its stake in PROG shares by 8.4% during the fourth quarter. The New York State Teachers Retirement System now owns 88,398 shares of the company’s stock valued at $3,988,000 after purchasing an additional 6,882 shares last quarter. 95.47% of the shares are owned by institutional investors and hedge funds.
Shares of PRG stock opened at $17.73 on Friday. The stock has a market cap of $958.18 million, a P/E of 5.99 and a beta of 2.05. PROG Holdings, Inc. has a 52-week low of $15.62 and a 52-week high of $50.79. The company has a quick ratio of 1.37, a current ratio of 3.35 and a debt to equity ratio of 0.93. The company’s 50-day simple moving average is $23.63 and its 200-day simple moving average is $30.69.
PROG (NYSE:PRG – Get Rating) last announced its quarterly earnings results on Wednesday, April 27th. The company reported $0.57 per share for the quarter, missing the consensus estimate of $0.74 ($0.17). The company had revenue of $710.46 million for the quarter, compared to analysts’ expectations of $719.20 million. PROG had a return on equity of 24.37% and a net margin of 7.17%. The company’s revenue for the quarter declined 1.5% compared to the same quarter last year. In the same quarter last year, the company earned $1.22 per share. On average, analysts expect PROG Holdings, Inc. to post 2.54 EPS for the current fiscal year.
Several research analysts recently rated the stock. Raymond James downgraded shares of PROG from an outperform rating to a market perform rating in a research note on Friday, June 17th. Stephens posted a price target of $21.00 for PROG shares in a research note on Monday, June 20th. Finally, KeyCorp lowered its price target on PROG shares from $50.
About PROG (received rating)
PROG Holdings, Inc (NYSE:PRG) is a Salt Lake City, Utah-based financial technology holding company with three business segments: Progressive Leasing, which provides lease-to-own transactions primarily to consumers with credit problems through e-commerce and point – of-sale retail partners via online, mobile and in-store solutions; Vive Financial, which makes a variety of second-glance revolving credit products available to consumers who may not qualify for traditional prime credit through storefront and branded credit cards; and Four Technologies, which offers consumers of all credit backgrounds BNPL (Buy Now, Pay Later) options through four interest-free installments through its Four platform.
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